> If we just normalize everybody's wealth to 1, then all wealth inequality disappears. Problem solved.
You misunderstood the use of the word "normalize". The point of normalization is to change the absolute magnitude but keep the relative magnitudes the same. Perhaps I should be more specific: if you have two values, 6 and 4, which sum to 10, and you'd like to normalize the total to 1, then you multiply each by 1/10 so that you end up with 0.6 and 0.4.
> The evidence doesn't really bear this one out.
Write some code to simulate this. I think you'll find that preferential attachment does in fact create a rich-get-richer phenomenon. For example, take a look at this simulation coded in NetLogo (http://ccl.northwestern.edu/netlogo/models/PreferentialAttac...).
You misunderstood the use of the word "normalize". The point of normalization is to change the absolute magnitude but keep the relative magnitudes the same. Perhaps I should be more specific: if you have two values, 6 and 4, which sum to 10, and you'd like to normalize the total to 1, then you multiply each by 1/10 so that you end up with 0.6 and 0.4.
> The evidence doesn't really bear this one out.
Write some code to simulate this. I think you'll find that preferential attachment does in fact create a rich-get-richer phenomenon. For example, take a look at this simulation coded in NetLogo (http://ccl.northwestern.edu/netlogo/models/PreferentialAttac...).